Kazakhstan achieved cancellation of the decision on recognition of the arbitral award in the matter of Stati Gabriel in cassation court Luxembourg

The cassation court Luxembourg cancelled the decision on recognition of the arbitral award against Kazakhstan of 500 million US dollars, having returned business back to Appeal court which will be created in new structure. In August, 2017 Stati Anatol, Stati Gabriel, Ascom Group S. A. and Terra Raf Trans Trading Ltd (further - Stati Anatol) obtained unilaterally the injunction according to which the arbitral award under Contract to the power charter, taken out concerning Kazakhstan in 2013, was recognized subject to execution in Luxembourg. This decision was...